Posted by John Corey on May 19, 2006 at 19:55:10:
The credit score is screaming out that you have a problem somewhere.
Most lenders will have a very hard time with the proposed transaction. Some might do it if a lot of the past problems were cleared up. Expect that any such loan could be very costly so you might not net that much after closing costs.
Can you afford to wait 6-12 months and get the score up? Even if you have to take a second job to get the cash to pay some bills, etc?
What about selling and using the proceeds of the sale to pay off bills, etc.? Then rebuild after you are on more solid ground.